New Delhi: Indian Renewable Energy Development Agency Limited (IREDA) has successfully raised ₹453 crore through its second issuance of IREDA Perpetual Bonds at an annual coupon of 7.70%.
The fundraising marks a strategic step toward strengthening its capital base to expand renewable energy financing across India.
The IREDA Perpetual Bonds issue witnessed robust investor participation, with bids amounting to ₹1,343 crore against a base size of ₹100 crore and a Green Shoe option of ₹400 crore.
The oversubscription by 2.69 times underscores investors’ strong confidence in IREDA’s position as a key financial institution supporting India’s renewable energy transition.
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Pradip Kumar Das, Chairman and Managing Director of IREDA, said: “These bonds will strengthen our Tier-I Capital and enable us to scale renewable energy financing, accelerating India’s journey toward a greener and more sustainable future. I sincerely thank all the investors for their overwhelming response and continued trust in IREDA.”
IREDA Perpetual Bonds: Distinct Features
The IREDA Perpetual Bonds carry distinct features: they have no maturity or redemption period and can only be called at the issuer’s option. Investors will receive a 7.70% annual coupon with a step-up of 50 basis points if the bonds are not called after 10 years.
Ranked senior only to share capital, these hybrid securities combine equity-like characteristics with long-term capital stability for IREDA.
This successful issuance further reinforces IREDA’s role in mobilizing resources for India’s renewable energy ecosystem while ensuring stable financing for green energy projects nationwide.
